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ISLAMABAD: In a major development, Kingdom of Saudi Arabia has decided to invest in the Reko Diq mining project, with experts predicting a potential influx of millions of dollars into the project.
As per the details, the Reko Diq project, located in Balochistan, is a joint venture between Canadian mining company Barrick Gold, which holds a 50% stake, and the federal and Balochistan governments, each holding 25%.
Experts believe that Saudi Arabia’s involvement could lead to substantial financial investment, which would likely boost Pakistan’s economy and mining sector.
This decision has been taken after the recent arrival of a 130-member Saudi delegation led by Saudi Investment Minister Engineer Khalid bin Abdulaziz Al-Falih, who came to Pakistan for talks aimed at increasing bilateral economic cooperation.
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